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- Nomura International Plc (based on Bloomberg)
Pair's Outlook
The Euro overperformed on Thursday, having easily pierced not only the immediate resistance cluster, but even the second one, thus, climbing over the ten-month down-trend. Another rally is required today to fully realise the breach of the down-trend. Technical indicators are no longer giving bearish signals in the daily timeframe, thus, creating a possibility for a bullish development today. The closest resistance is now represented by the weekly R2 and the 50% Fibo, both located around 115.65; however, a surge that far is unlikely to occur, as no event with such impetus is present today.
Traders' Sentiment
Bulls keep taking up a large part of the market, namely 67% (previously 68%). Meanwhile, the portion of orders to sell the European single currency inched up from 50 to 58%.
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